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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10100
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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I will be 65 June 4 2017 I am on Social Disability now I

Customer Question

I will be 65 June 4 2017 I am on Social Disability now I have been on Disability and I became Disabled in 2006 I Have MS and used to be a carpenter when do I have to change to regular Social Disability?
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?
Customer: who is an expert
Submitted: 1 month ago.
Category: Social Security
Expert:  Lane replied 1 month ago.

Good Morning. My name's Lane. I can help you here.

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, a Masters Degree, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986…

Please bear with me for a moment, while I prepare your response.

Expert:  Lane replied 1 month ago.

The first thing you need to understand when receiving SSDI benefits is that the benefits do convert, automatically from Social Security Disability benefits to Social Security retirement benefits, once you reach retirement age.

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Nothing will change. You will continue to receive a monthly check and you do not need to do anything in order to receive your benefits.

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The Social Security Adminnistration will simply change your disability benefit to a retirement benefit once you have reached full retirement age.

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When you reach that age, however, can vary depending on which year you were born. For those born between 1934 and 1954, full retirement age is 66.

Expert:  Lane replied 1 month ago.

Because they remove the non-working years from your Average earnings, your benefit will not change. Again, you will just be paid from a different fund.

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Please let me know if you have any questions at all, before rating me.

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And if you DON'T have other questions Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …would be appreciated!

Otherwise I receive no compensation for the work.

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Thank you,

Lane

Expert:  Lane replied 1 month ago.
No, as I said in the other answer ... you are confusing the reduction in benefits for working while taking social security under age 66...WITH...Taxation OF social security by IRS....Two different issues....How MUCH of your social security is taxable ALWAYS depends on your COMBINES (some call it PROVISIONAL) income ... 1/2 of your social security PLUS your other income...The OTHER ISSUE is social security actually REDUCING YOUR MONTHLY benefit becasue you earn too much (15,720 in 2016) ... and this only applies if you are under full retirement age of 6613 Oct 2016, 6:05 PM Offer Premium Service